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Thread: How Alan Greenspan Destroyed America

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    How Alan Greenspan Destroyed America

    How Alan Greenspan Destroyed America


    The Guardian / By Dean Baker

    The former Fed chair is promoting his new book. He should admit his role in the housing crisis, not insult our intelligence.
    October 28, 2013 |


    Alan Greenspan will go down in history as the person most responsible for the enormous economic damage caused by the housing bubble and the subsequent collapse of the market. The United States is still down almost 9m jobs from its trend path. We are losing close to $1tn a year in potential output, with cumulative losses to date approaching $5tn.

    These numbers correspond to millions of dreams ruined. Families who struggled to save enough to buy a home lost it when house prices plunged or they lost their jobs. Many older workers lose their job with little hope of ever finding another one, even though they are ill-prepared for retirement; young people getting out of school are facing the worst job market since the Great Depression, while buried in student loan debt.

    The horror story could have easily been prevented had there been intelligent life at the Federal Reserve Board in the years when the housing bubble was growing to ever more dangerous proportions (2002-2006). But the Fed did nothing to curb the bubble. Arguably, it even acted to foster its growth with Greenspan cheering the development of exotic mortgages and completely ignoring its regulatory responsibilities.

    How Alan Greenspan Destroyed America | Alternet
    Alan Greenspan is just a puppet who carried out his master's order. The real mastermind is the Feds. (FBI) They hold large quantity of houses in my case and need a low interest rate to maintain the value of this property. So though Greenspan is not on the seat, Bernanky or his follower will still keep the interest rate low. That's why you saw they keep the QE programme on and continue to print money.

    739. The third housing bubble (10/1/2012)

    This was what happened in 1990s. The Feds started to buy in the real estate property from 1990 when they drove down the housing price. In 1997, when they found I trying to buy a house, the Feds passed the “Taxpayer Relief Act” to check other buyers from competition. Then they pushed up the housing market with the “dot com” babble. Why? Because the area where I live is the Silicone Valley where the high tech. companies gather in and where the Feds hold a lot of property they bought in my case. The tactic was to encourage the establishment of new company. The high salary employee would boost the property price.

    The “dot com” bubble exploded in 2000. The Feds might have made good profit in property market in elsewhere but the San Francisco Bay Area where they invested heavily in my case. How to release their wealth? Then came the second bubble.

    In April 2001, Pentagon created EP-3 spy plane collision incident in South China Sea. In secret deal with China to release the spy plane crew, the Feds bribed China to frame a drug case in US. As a payback to Pentagon, the Feds helped Pentagon prepared 911 terror case. Silverstein leased WTC at that month. 911 also gave the Feds the Patriot Act they have longed for. (See: “695. The collusion of D.O.D. and D.O.J. (11/28/2011)”)

    With Patriot Act and a framed drug case in hand, the Feds now was sure Kat Sung would be eliminated. What needed was a booming housing market. How to get it? By manipulate the Federal Reserve.

    http://graphics8.nytimes.com/images/....graph.190.gif

    You can see how dramatically the interest rate dropped to the bottom in 2001 that created a housing babble US ever had which finally caused financial collapsing in 2008.

    However, the property the Feds hold in Kat Sung’s case is still there, how to deliver the hot potato into other people’s hands? It’s still the mission of Federal Reserve.
    Reuters – Wed, Sep 26, 2012.. .

    (Reuters) - The U.S. Federal Reserve launched a new round of monetary stimulus this month, saying it will buy $40 billion in housing-backed bonds each month until the labor market improves substantially.

    The Fed has kept interest rates near zero since December 2008 and now says it expects weak economic conditions will warrant keeping them there through at least mid 2015, half a year longer than it had earlier expected.
    http://news.yahoo.com/factbox-fed-of...-business.html
    When Federal Reserve exhausted their interest rate tool, to help the Feds to break away from their straits, Federal Reserve will turn papers into money by printing 40 billion dollars each month – all of them will poured into the real estate market in order to create a third housing babble. This time, the bubble will come with severe inflation, I foresee.

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    Re: How Alan Greenspan Destroyed America

    I'd be more impressed if the prose seemed a little more, umm, (how shall I put it?), ..., Educated?,... Yes, that's it. Educated.
    "The trouble with people isn't that they don't know, but that they know so much that ain't so." - Will Rogers
    "Truth isn't Truth" - Rudy Giuliani

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    Re: How Alan Greenspan Destroyed America

    742. Help Obama to win the second term (10/24/2012)

    The recent Gallup poll shows that Mitt Romney leads over President Barack Obama in president Campaign. That’s just a gimmick to cheat people. The election result is pre-decided. Obama will stay for his second term. It doesn’t relate to any politics. It is for a case of the Feds. They need Obama’s Health Reform that they forced Chief Justice Roberts to change his mind in June to pass the “Health Reform”. (see “ 726. The surprise turnaround of Chief Justice (7/4/2012)”)

    To keep Obama to stay in his seat, they have to create an economic background that favors him. Two months before voting date, in early September, we saw European bank chief Draghi said the bank would buy the bond with no limit. How could this affect US president election?

    Draghi helps out Obama campaign

    By Robin Harding in Washington September 6, 2012


    Barack Obama’s chances of re-election as US president rose on Thursday and the words that did it were not his but Mario Draghi’s.

    Long before Mr Obama stood up to accept the Democratic nomination in Charlotte, North Carolina, the head of the European Central Bank had sketched out a new plan to buy the bonds of troubled eurozone countries.


    That will not move the polls; it will not move a single vote. But Mr Draghi has lowered the gravest of risks to Mr Obama: a pre-election meltdown in the eurozone that would have blown up banks, pulverised Wall Street, and routed a fragile US economy back into recession.

    If that happened, it would not be Mr Obama’s fault, but he would get the blame. Just as the failure of Lehman Brothers doomed his rival John McCain in 2008, a eurozone implosion would create economic odds too great for Mr Obama to surmount.

    Draghi helps out Obama campaign - FT.com
    Within days, Federal Reserve Chief Bernanke pushed out another QE which would push up economy temporarily but hurt it in long term with inflation. The Republicans felt it immediately. The timing of issuing QE3 is not a coincidence. It helps Obama.

    Fed risks political fallout from QE3

    By Robin Harding and James Politi in Washington September 14, 2012

    Mitt Romney, the Republican candidate, duly opened fire on Friday after the Fed began an open-ended third round of quantitative easing (QE3), under which it will buy $40bn of mortgage-backed securities a month.

    Fed risks political fallout from QE3 - FT.com
    QE3 will create another housing bubble.

    Marc Faber: Fed's QE forever is ludicrous; no country has become rich from consumption

    Source: BI-ME , Author: Constantine Gardner Fri September 14, 2012

    "Asset prices will go up and the money will flow to the Mayfair Economy," he said, defining the latter as an "economy of the rich people whose assets prices go up and whose net worth increases" without any trickle down benefit to the real economy.

    What you have is a small economy that is booming and the majority of the economy is being damaged by QE, Faber explains.

    Faber sees the Fed's monetary policies over the last 15 years as mainly responsible for the various asset bubbles (Nasdaq, real estate etc...) leading to the subprime crisis in 2007. "The money printers and the neo-Keynesians interventionists are responsible for the crisis, reckons Faber, and people should know this."

    Dr Bernanke's attempt to boost growth and reduce unemployment will end up, according to Dr. Faber, in a fiscal Grand Canyon with never ending deficits, the majority of the economy being damaged, the man in the street facing higher prices and losing his job.

    Marc Faber: Fed's QE forever is ludicrous; no country has become rich from consumption - Business Intelligence Middle East - bi-me.com - News, analysis, reports
    Faber sees the Fed's monetary policies over the last 15 years as mainly responsible for the various asset bubbles (Nasdaq, real estate etc...), the Nasdaq bubble is the dot.com bubble, I talked about these two bubbles from #733 to #739. And the Federal Reserve now continues to create the third one. At the purpose to help the Feds to remove the hot potatoes in their hands to the ordinary people.

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    Re: How Alan Greenspan Destroyed America

    733. Swimming pool speaks (8/20/2012)

    In 1990s, when I abandoned driving, I used to walk to the super markets. I was impressed by the large noise of cheering children in a swimming pool along Amberwood Ln. The pool belongs to a Condo community. Probably started from 2000, the children disappeared. I was too, impressed by the dead silence when I passed that swimming pool. The Feds must have moved all families away. (at least the families with children) I realized how large scale the case was that the Feds applied on me.

    This year, I learned the skill to post the picture to the internet. On August 5, Sunday, between 4 pm to 5:30 pm, I took pictures of the two swimming pools near my residence. Summer will end. New school year will soon start. The swimming pool is as dead as it was in recent decade.


    8/5/2012 Sunday 4pm Amberwood Ln.


    8/5/2012 5:30pm Sunday Alves Circle, Croply Rd.



    1,2. Swimming pool
    3. Public park
    4. Small World Pre-school

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    Re: How Alan Greenspan Destroyed America

    You posted that one two years back. What's your point?
    "The trouble with people isn't that they don't know, but that they know so much that ain't so." - Will Rogers
    "Truth isn't Truth" - Rudy Giuliani

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    Re: How Alan Greenspan Destroyed America

    Quote Originally Posted by LarsMac View Post
    You posted that one two years back. What's your point?
    Although you are paid to do a cyber police job, not everyone inspecting the article like you doing. This is for people who have not read it as long as it serves for the topic. I don't post to your favor.

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    Re: How Alan Greenspan Destroyed America

    Quote Originally Posted by katsung47 View Post
    Although you are paid to do a cyber police job, not everyone inspecting the article like you doing. This is for people who have not read it as long as it serves for the topic. I don't post to your favor.
    Just wondering why you are posting pictures of my neighborhood, is all.
    "The trouble with people isn't that they don't know, but that they know so much that ain't so." - Will Rogers
    "Truth isn't Truth" - Rudy Giuliani

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    Re: How Alan Greenspan Destroyed America

    Quote Originally Posted by LarsMac View Post
    Just wondering why you are posting pictures of my neighborhood, is all.
    I always say my article have been proved true after I posting it.
    I have just said you are a paid snitch. And I said the Feds had moved out the residents of my area and moved in their agents and informants. Thank you come out for proving.

    734. Wang's family (8/29/2012)


    With two decades long experience, I get familiar with some tactics used by the Feds. One tactic is they always having their agents or informants to befriend with the target as close as they can. They changed colleagues of my wife by introducing her to a new company. (See "32. "Operation Fire Dragon"") They changed all playmates of my daughter even she was still a child. As for me, they arranged a "Wang family".

    In about 1992, the Flea Market had a re-arrangement of selling space. My new neighborhood was Mr. Wang. Mr. Wang spoke my native language - Shanghainese. Besides selling in Flea Market, he also ran a restaurant. (see "25. Neighbor seller and gun" and "181. Soup (11/21)") He had two sons whom ran a moving company. His youngest son (Wang Y. son) also doing business in flea market. Wong Y. son found Mao (importer) and start to sell same porcelain figuring as mine. He had a retail space in front of mine, so he intercepted business from me. In wholesale market, he beat me with losing money price. I puzzled with the low price he could wholesale. How could he make living on that? Later I realized that he was only a tool of the Feds being used to push me out of business.

    Mr. Wang used to chat about the moving business his son ran. Once he was absent in weekends. When he appeared next week, he said he had a long distance moving order. A Korean customer moved from California to East Coast because the company he worked for was re-located. When he detailed the furniture that customer had, I had a feeling there was no privacy for a moving company. I once wondered why a big company would cost that much to moving from San Jose to Austin. Now I think it was just a warrantless search by the Feds. They control the CEO of the company and the moving business. They could carry out such tactic when they think it's necessary.

    Since Wang Y. son gave me a hard time in business. I was alert on their action. One day in that year, I saw a carry on van looked like Wang's moving company's in the end of the street. I went there to have a look. It was Wang's moving company. Mr. Wang was moving out furniture for a resident. It was the first time I realized that the Feds were emptying my community.

    Sometime later, when I stopped my car before a red light at a crossing road, I suddenly recalled that I didn't tell the teacher of the pre-school that I would come to pick up my daughter later that day. I turned back my car towards the pre-school. Shadowvale Dr. is a back street from my residence. I rarely use it. But that day, from main street to pre-school, it could be a short cut. So I drove that way. I was surprised to see Mrs. Wang hurried out from a lane in Shadowvale Dr. It was seven something in the morning. She was obviously going to work. Mr. Wang's residence was in Milpitas at that time. How could his wife live in my backstreet?

    The two events broadened my knowledge - the Feds like to empty target's neighborhoods and move their informants in.

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    Re: How Alan Greenspan Destroyed America

    735. The close of Small World Pre-school (9/3/2012)

    In early 1990s, I had my daughter attending a Small World Pre-school. It was not far away from my home. It took about five minutes to walk to there. There were a lot of children in Small World Pre-school when she was first there – probably about 20-30 something. Then the number shrank suddenly to about 10 or less.

    In 1994, because the constant EM-wave radiation harassment from the Feds, I left to China. My daughter went to a primary school. When I returned from China, the Small World Pre-school shut down. There was no demand for it. The Feds had moved most ordinary residents away from my community.

    The public park next block to my residence also deserted. Though it was well maintained but rare people were seen there. The playground was used to be full of kids. My daughter got her three play-mates there. They disappeared after their families moved away. The Feds arranged three new play mates for her.

    Here are pictures I took on Sunday, 9/2/2012 at 10 in the morning. The park remained like this for the most time.

    park 9/2/2012 10:00 am Sunday

    park 9/2/2012

    Since I started this thread, several times I talked about the deserted park. Then occasionally there was a kid or two playing there. Sometimes there even was a barbecue gathering. These were cover up operation.

    After I wrote “733. Swimming pool speaks (8/20/2012)”, I started to see a kid or two playing in the swimming pool. I knew that’s a cover up response to my revelation. I used to go shopping in afternoon, I broke my habit to go in the noon. On Saturday, Aug. 11, 11:40 am, I passed that swimming pool. No, nobody was there. It was a hot day, the high temperature was 92F degree.

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    Re: How Alan Greenspan Destroyed America

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    736. CASH FOR HOUSE (9/12/2012)

    In early 1990s, many unusual things happened. Mr. Wang’s moving company moved my neighborhood out from my community, his wife was seen living in my back street, the Small World Pre-school shut down due to the disappearance of children, the desert of the public park…. All these indicated that the Feds had moved the residents away from my area. I was puzzled – it took a lot of money.

    At the same time I found the Feds were bandits. They murder people to loot their wealth, especially when they have cash. My health had been hurt by the Isotope money. It should be used to track drug money. I never touch drugs. Why they applied it on me? Obviously they hoped to find a treasure of cash pile. Earnie might have died because he had too much cash stored. See:”7. Alleged murder of Ernie”, “ 8. FBI's profit”.

    Another way to steal money from victims was through the stealing of credit card. See: “34. The lost Credit Card “.

    So if such a criminal group bought a lot of real estate property, would they just for law enforcement? Of course they’d make money on that.

    In later 1990s, I totally abandoned the driving because there was too much harassment and danger from a manipulated car. I turned onto public transportation.

    One day while I was waiting for the bus, I saw an advertising board. A small one -the size like an election campaign board with politician’s name. It said,
    “Cash For House
    Call 1-800-9**-FAST”

    Then I noticed this advertisement was everywhere. ** were numbers varied from different location. For example, ** in Oakland was different from San Jose. 9** might be the number for California area. In Florida it could be “1-800-***-FAST”. The firm behind this advertisement must be a big one. It started to collect property countrywide in later 1990s. It foresaw a booming real estate market.

    This firm is a powerful one. It successfully blew up a housing bubble to harvest the profit until it popped off in 2006.

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